Open AccessLa Réaction Des Cours Boursiers Suite À Une Nouvelle Annonce Des Entreprises: Cas De La Bourse Régionale Des Valeurs Mobilières (BRVM)
Author(s) -
Edouard Guilaire Dadem Kemgou,
Eloge Lord Manetsa,
Léopold Djoutsa Wamba,
David Kamdem
Publication year - 2017
Publication title -
european scientific journal
Language(s) - English
Resource type - Journals
eISSN - 1857-7881
pISSN - 1857-7431
DOI - 10.19044/esj.2017.v13n22p282
Subject(s) - dividend , stock exchange , profitability index , event study , financial economics , economics , humanities , business , econometrics , finance , philosophy , geography , context (archaeology) , archaeology
The purpose of this article is to highlight the reaction of share prices following the publication of dividends on the regional stock exchange (RSESS). To achieve the objective of our study, daily profitability series data were used over the period from January 1998 to December 2007. The methodology of the event studies was used and there are various ways to incorporate the "Event in the prices. It is accepted that the effect of the announcement of the dividend for all the securities is positive despite imperfections in the reaction of the markets. Consequently, the publication of dividends has an impact on stock market returns. The hypothetical information content of the dividend (ICHD) is therefore accepted.